Tag: news
So what if the US credit rating is cut?
WASHINGTON, April 19, 2011 (AFP) – For the first time a top credit ratings agency has seriously hinted the United States might be forced to welch on its debts, a warning experts say could herald dramatic changes for the country and the world. In the world of credit a “AAA” rating is a gold star […]
Sri Lanka gets most FDI from India in 2010
Apr 19, 2011 (LB) – India was the largest source of foreign direct investment to Sri Lanka in 2010 with 110 million US dollars followed by Malaysia with 72 million US dollars and the United Arab Emirates 66 million dollars, the Central Bank said. “It is necessary for Sri Lanka to attract more non debt […]
Sri Lankan Tamil party hails UN war crimes report
April 18, 2011 (AFP) – Sri Lanka’s main Tamil political party on Monday hailed a leaked UN report which called for an international war crimes probe into the island’s political and military leadership. The moderate Tamil National Alliance (TNA) said the report, commissioned by UN Secretary General Ban Ki-moon, amounted to “irrefutable confirmation” of atrocities […]
Sri Lanka faces balance between inflation and growth: IMF
Apr 18, 2011 (LBO) – Sri Lanka faces a balance between inflation and growth, a top International Monetary Fund official said as prices continue to rise and the Central Bank has taken the first steps to tackle loose monetary policy. Anoop Singh, director of IMF’s Asia and Pacific department said that Sri Lanka has been […]
Sri Lanka state worker growth flattens
Apr 17, 2011 (LBO) – The expansion of Sri Lanka state workers seen since 2004 has taken a breather in 2010 reducing a key form of tax banditry practised by rulers, the latest official data shows. In 2010 however the state also froze wages helping bring down the budget deficit. However analysts say rather than […]
Sri Lanka leader urges protests against UN report
April 17, 2011 (AFP) – Sri Lanka’s president has called for mass protests against a UN report which urged a probe into alleged war crimes committed during the fight against Tamil Tiger rebels, his office said Sunday. President Mahinda Rajapakse in an address to his Sri Lanka Freedom Party officials said this year’s May Day […]
” bill opposition increases
Apr 17, 2011 (LBO) – An attempt by the state to deduct further sums money from salaries of Sri Lanka’s private sector workers to create a ‘pension’ has run into further opposition with the draft law being challenged in court, a media report said. The Sunday Times newspaper said Ceylon Bank Employees Union had challenged […]
Leaked UN report urges Sri Lanka war crimes probe
April 16, 2011 (AFP) – A UN panel has called for an independent inquiry into “credible” allegations that Sri Lanka committed war crimes and crimes against humanity in its final 2009 offensive against Tamil Tiger rebels. The panel of experts, appointed by UN Secretary General Ban Ki-moon, submitted its report last week, and leaked excerpts […]
Vietnam ADB meeting to focus on Asian emerging challenges
Apr 14, 2011 (LBO) – Asian Development Bank’s annual meeting in Vietnam will focus on rising commodity prices which is hurting Asia’s two billion poor, climate change, an ageing population as the region also grapples with natural disasters. ADB’s 44th annual meeting starts will be held from May 03 to 06 in Hanoi alongside a […]
” UN war crimes report
April 13, 2011 (AFP) – Sri Lanka on Wednesday rejected as “flawed” and “biased” a UN-commissioned report into alleged war crimes committed during the final 2009 offensive by government troops against Tamil Tiger rebels. The External Affairs Ministry said it had received a copy of the report by a three-member expert panel who handed their […]
Sri Lanka could target inflation of 4-7 percent: IMF paper
Apr 14, 2011 (LBO) – An International Monetary Fund policy paper has proposed a forecasting and policy analysis system (FPAS) to help start an inflation targeting regime for Sri Lanka which suggested a range of 4.0 to 7.0 percent a year as a target. The paper said Sri Lanka’s tight peg also complicated monetary policy. […]
Sri Lanka central bank had independence in 2010: Treasury secretary
Apr 13, 2011 (LBO) – Sri Lanka’s central bank had independence in 2010 and the country moved forward with more prudent fiscal and monetary policies, Treasury Secretary P B Jayasundera said. Central Banks were originally created by kings to print money and fight wars creating inflation and balance of payments troubles in the process. Sri […]